Singapore October bank lending rises 1.4 percent m/m

Reuters Staff

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SINGAPORE, Nov 30 (Reuters) - Singapore’s total bank lending in October rose 1.4 percent from September on the back of increased lending to financial institutions, central bank data showed on Thursday.

Loans and advances by domestic banking units in the city-state amounted to S$649.6 billion last month, up from S$640.7 billion in September.

Bank lending in October rose 6.8 percent from a year earlier.

Loans and advances in Asian currency units (ACU) rose to S$580.6 billion in October from S$570.4 billion in September.

The ACU market refers to loans denominated in currencies other than the Singapore dollar. (Reporting by Fathin Ungku; Editing by Sam Holmes)